Prosight Management LP Sells 18,300 Shares of Haemonetics Co. (NYSE:HAE)

Prosight Management LP cut its stake in shares of Haemonetics Co. (NYSE:HAE - Free Report) by 28.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,700 shares of the medical instruments supplier's stock after selling 18,300 shares during the quarter. Haemonetics accounts for about 1.0% of Prosight Management LP's portfolio, making the stock its 23rd largest position. Prosight Management LP owned about 0.09% of Haemonetics worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Boston Trust Walden Corp grew its holdings in Haemonetics by 13.1% during the 4th quarter. Boston Trust Walden Corp now owns 915,722 shares of the medical instruments supplier's stock worth $71,500,000 after acquiring an additional 106,114 shares during the last quarter. Empowered Funds LLC bought a new stake in Haemonetics during the 4th quarter worth approximately $319,000. Pacer Advisors Inc. grew its holdings in Haemonetics by 36.1% during the 4th quarter. Pacer Advisors Inc. now owns 10,104 shares of the medical instruments supplier's stock worth $789,000 after acquiring an additional 2,680 shares during the last quarter. Norges Bank bought a new stake in Haemonetics during the 4th quarter worth approximately $32,803,000. Finally, Voya Investment Management LLC grew its holdings in Haemonetics by 820.5% during the 4th quarter. Voya Investment Management LLC now owns 316,952 shares of the medical instruments supplier's stock worth $24,748,000 after acquiring an additional 282,521 shares during the last quarter. 99.67% of the stock is owned by institutional investors.

Haemonetics Stock Up 1.5%

Shares of Haemonetics stock traded up $1.03 during trading on Friday, reaching $70.41. 369,783 shares of the company traded hands, compared to its average volume of 700,460. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.97 and a quick ratio of 2.55. Haemonetics Co. has a 1-year low of $55.30 and a 1-year high of $95.53. The company has a 50 day moving average price of $62.92 and a 200-day moving average price of $71.21. The firm has a market capitalization of $3.54 billion, a PE ratio of 27.72, a P/E/G ratio of 1.11 and a beta of 0.32.

Haemonetics (NYSE:HAE - Get Free Report) last released its earnings results on Thursday, May 8th. The medical instruments supplier reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. Haemonetics had a net margin of 9.47% and a return on equity of 23.66%. The company had revenue of $330.60 million for the quarter, compared to the consensus estimate of $329.38 million. During the same quarter in the previous year, the company earned $0.90 EPS. Haemonetics's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Haemonetics Co. will post 4.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HAE. JMP Securities dropped their price target on shares of Haemonetics from $125.00 to $100.00 and set a "market outperform" rating on the stock in a research report on Friday, February 7th. Raymond James restated a "strong-buy" rating and issued a $105.00 price target (down previously from $115.00) on shares of Haemonetics in a research report on Friday, May 9th. Bank of America downgraded shares of Haemonetics from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $95.00 to $68.00 in a research report on Friday, February 7th. Needham & Company LLC dropped their price target on shares of Haemonetics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, StockNews.com downgraded shares of Haemonetics from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.89.

Haemonetics Company Profile

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.